As we started writing this European morning, “another non event day”, we were unfortunately proven right. Trading is very dull, despite the rumors coming out of Europe. The latest being Europe will run joint rescue funds. News flow is now getting pathetic. Market is rallying some, but with the lack of volume we see, it is hardly statistically significant moves we see.
Some charts below, and note how the Dax is underperforming the Stoxx 50.
DAx vs Stoxx 50, note the underperformance of DAX. Catch up game short term?